Options Update: J.C. Penney (JCP) & General Motors (GM)
J.C. Penney (JCP)
JCP June Volatility Low Into Margin Outlook
J.C. Penney is recently down $1.40 to $29.12. JCP is scheduled to report Q1 EPS on May 15.
JCP May 30 straddle is priced at $2.65, June is at $5.30.
JCP June option implied volatility of 67 is below its 6-month average of 74.
General Motors (GM)
GM Straddle Prices Indicate Risk
General Motors is recently down $.10 to $1.51.
GM call option volume of 14,256 contracts compares to put volume of 14,658 contracts.
GM at the money June 1 straddle is priced at $.92, September 1 straddle is at $1.04, suggesting large price movement.
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